Australia: Consumer confidence jumps - ANZ

ANZ-Roy Morgan Consumer Confidence for the Australian economy jumped by 4% last week and posting one of the largest increases in a year, notes the research team at ANZ.

Key Quotes

“On an absolute level, the index is at a two-month high.”

“Financial conditions indices were mixed, with current finances down 2.2%, while future financial conditions rose 1.0%.”

“Economic conditions were up by a healthy margin. Current economic conditions gained 13.3% after falling for three consecutive weeks. Future economic conditions also showed strength, gaining 7.0%, a rise that came after four straight weekly losses.”

“The ‘Time to buy a major household item’ was up 3.2%, taking it close to the levels seen last July. The four-week moving average for inflation expectations was stable at 3.9%, although the weekly reading fell to 3.7%.”